Two bills that would allow the US State to invest in digital assets have authorized the two legislative chambers and are now awaiting the decision of Governor Katie Hobbs.
The Senate Bill 1025 bill, the Arizona Strategic Bitcoin Reserve Act and Bill 1373 of the Senate, creating a strategic reserve of digital assets, would authorize the treasurer and the state retirement system to invest up to 10% of the funds available in Bitcoin and other cryptocurrencies.
This decision makes Arizona the first state to adopt such legislation in the House and Senate. The votes were adopted on April 28 with the 31-25 and 37-19 years, respectively. Two bills have erased the State Chamber Rules Committee on March 24.
Arizona has just become the first state of the country to adopt Bitcoin reserve strategic legislation in the Chamber and the Senate.
On the governor's office! pic.twitter.com/gltbdntkpq
– Dennis Porter (@dennis_Porte_) April 28, 2025
To Governor Hobbs
Supporters, including the co-sponsor, Jeff Weninger, argue that the legislation would diversify the reserves of Arizona, breaks against inflation and would position the state at the forefront of financial innovation.
However, Governor Hobbs did not indicate his position on bills and recently undertook to oppose his veto to all legislation until the State does not resolve a budgetary dead end, according to to reports.
If Hobbs opposed his veto to the legislation on the Bitcoin reserve, the question would be closed for the year, which suggests that there would be no possibility of derogation or review until the next legislative session in 2026.
“Any bill that is not already on my office will be opposed to the veto until we have a serious and bipartite financing solution that protects health care for the disabled Arizonians”, it said on X on April 17.
SB 1025 focuses specifically on Bitcoin investments and includes a clause to secure any BTC accumulated in a separate account in a potential federal reserve of Bitcoin.
The SB 1373 seeks to create a reserve fund managed by the Treasury made up of cryptographic assets seized during criminal surveys. The fund would also be capped at 10%, the additional provision that assets could be loaned to improve yields.
What now for Arizona's Bitcoin reserve?
The two reserve bills must be signed by Governor Hobbs.
Last week, Hobbs signed a bill linked to digital assets and opposed its veto.
It could go in both directions.
Which means it's time to contact your office
– Bitcoin Laws (@bitcoin_laws) April 28, 2025
Last crypto legislation
Arizona is the main state with these two bills of investment in crypto in the last stage of the vote, according to the Bitcoin State reserve race tracker.
Bitcoin Laws reported that two Crypto bills went to Governor Hobbs' office on April 18.
HB 2906 would have widened a regulatory sandbox to include cryptographic companies. However, this was opposed to the veto. HB 2342, legislation which protects the extraction of bitcoin against regulatory discrimination, has been adopted.
Elsewhere, Bitcoin Reserve Bill HB 92 adopted the Northern Carolina Committee on the rules, the calendar and the operations of the Chamber this week and has now adopted all the assigned committees.
On April 21, the Californian assembly bill 1052, or the “Digital Asset Bill” (formerly the Money Transmission ACT), adopted a committee vote with bipartite support.
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